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U.S. Securities and Exchange Commission

SEC News Digest

Issue 2010-238
December 17, 2010


SEC Orders a Suspension of Trading in the Stock of Supatcha Resources Inc.

The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the Exchange Act), of trading of the securities of Supatcha Resources Inc. (Supatcha), of Denver, Colorado at 9:30 a.m. EST on Dec. 17, 2010 and terminating at 11:59 p.m. EST on Dec. 31, 2010.

The Commission temporarily suspended trading in the securities of Supatcha because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, a geological report concerning the company's mining prospects in Ukraine and a purported tender offer for the company's outstanding shares.

The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.

Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff in the Division of Trading and Markets, Office of Interpretation and Guidance, at (202) 551-5777. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to Supatcha's securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.

If any broker-dealer or other person has any information which may relate to this matter, the Denver Regional Office of the Securities and Exchange Commission should be telephoned at (303) 844-1000. (Rel. 34-63568)

Stephen L. Cohen Named Associate Director in SEC Division of Enforcement

The Securities and Exchange Commission today announced that Stephen Cohen has been appointed as an Associate Director of the Division of Enforcement, a position in which he will assist in planning and directing the agency's enforcement efforts.

Mr. Cohen has spent the past two years as Senior Advisor to SEC Chairman Mary Schapiro. He provided counsel on a wide range of enforcement and compliance legal and policy matters, including various aspects of the Dodd-Frank Act such as the whistleblower legislation and rulemaking. Mr. Cohen also worked on a variety of special projects, such as leading the agency-wide initiative to improve the handling of tips, complaints and referrals and the agency's Consolidated Audit Trail proposal.

"The Enforcement Division will benefit greatly from Steve's intelligence, judgment, and determination as well as his comprehensive understanding of our securities laws and his grasp on the way the Division functions," said Robert Khuzami, Director of the SEC's Division of Enforcement. "We are excited that he has agreed to return to the Division and take on this new challenge."

Mr. Cohen said, "I am looking forward to the privilege of once again working alongside the dedicated and talented staff in the Enforcement Division."

Mr. Cohen is filling the Associate Director position previously held by Christopher Conte, who left the agency in September.

Mr. Cohen joined the SEC as an Assistant Chief Litigation Counsel in the Division of Enforcement in 2004, and worked on investigations and litigation involving accounting fraud, market manipulation, offering fraud, insider trading, and other violations, including cases involving auditors, broker-dealers, investment advisers, and self-regulatory organizations.

Before coming to the SEC, Mr. Cohen was associated with the Washington, D.C., office of Boies, Schiller & Flexner where his practice primarily involved complex commercial litigation. He also served as a trial attorney at the U.S. Department of Justice, where he was part of the Attorney General's Honors Program. Mr. Cohen also clerked for the Honorable Ursula Ungaro in the Southern District of Florida.

Steve received his JD magna cum laude from the University of Miami School of Law and his undergraduate degree from Boston University. (Press Rel. 2010-250)


SEC Adopts Rule to Extend the Temporary Filing Accommodation for Static Pool Information in Filings with respect to Asset-Backed Securities

The Securities and Exchange Commission adopted a rule extending the temporary filing accommodation provided by Rule 312 of Regulation S-T for static pool information for eighteen months so that the accommodation will apply to filings with respect to asset-backed securities filed on or before June 30, 2012. Rule 312 of Regulation S-T permits, but does not require, the posting of static pool information required by Item 1105 of Regulation AB on an Internet website under certain conditions rather than including the information in the EDGAR filing. While the Commission adopted an eighteen-month extension of Rule 312, the Commission may take action on the proposals issued on April 7, 2010 (See Release No. 33-9117) at any time before the expiration of the proposed extension. The Commission's adopting release has been posted on the SEC Web site. (Rel. 33-9165; File No. S7-18-10)


Orders of Deregistration Under the Investment Company Act Orders have been issued under Section 8(f) of the Investment Company Act declaring that each of the following has ceased to be an investment company:

  • Nuveen Insured Florida Premium Income Municipal Fund
    [File No. 811-7120]
    (Order: Rel No. IC-29528)
  • Nuveen Insured Florida Tax-Free Advantage Municipal Fund
    [File No. 811-21215]
    (Order: Rel No. IC-29529)
  • Eaton Vance Credit Opportunities Fund
    [File No. 811-21820]
    (Order: Rel No. IC-29530)
  • AmeriPrime Funds
    [File No. 811-9096]
    (Order: Rel No. IC-29531)
  • AmeriPrime Advisors Trust
    [File No. 811-9541]
    (Order: Rel No. IC-29532)
  • High Yield Income Fund, Inc.
    [File No. 811-5296]
    (Order: Rel No. IC-29533)
  • High Yield Plus Fund, Inc.
    [File No. 811-5468]
    (Order: Rel No. IC-29534)
  • Cash Accumulation Trust
    [File No. 811-4060]
    (Order: Rel No. IC-29535)
  • Neuberger Berman Realty Income Fund Inc.
    [File No. 811-21315]
    (Order: Rel No. IC-29536)
  • Oak Value Trust
    [File No. 811-9000]
    (Order: Rel No. IC-29537)
  • Pioneer Small Cap Value Fund
    [File No. 811-7985]
    (Order: Rel No. IC-29538)
  • Pioneer Tax Free Income Fund
    [File No. 811-2704]
    (Order: Rel No. IC-29539)
  • Pioneer Mid Cap Growth Fund
    [File No. 811-3564]
    (Order: Rel No. IC-29540)

MONY America Variable Account S

An order has been issued under Section 8(f) of the Investment Company Act declaring that MONY America Variable Account S has ceased to be an investment company. (Rel. IC-29527 - December 15)


Immediate Effectiveness of Proposed Rule Change

The Commission issued notice of filing and immediate effectiveness of proposed rule change (SR-NYSEArca-2010-115) filed by NYSE Arca under Rule 19b-4 of the Securities Exchange Act of 1934 amending NYSE Arca Options Rule 5.3(j) to permit trading options on leveraged exchange-traded notes and broaden the definition of futures linked securities. Publication is expected in the Federal Register during the week of December 120. (Rel. 34-63550)

Proposed Rule Change

The Chicago Board Options Exchange filed a proposed rule change (SR-CBOE-2010-109) to amend Rule 4.20, Anti-Money Laundering Compliance Program, to require that Trading Permit Holders and TPH organizations perform testing of their anti-money laundering programs during the first year of operation. Publication is expected in the Federal Register during the week of December 120. (Rel. 34-63559)





Modified: 12/17/2010